21shares joins FalconX to advance digital asset investment products
FalconX is one of the largest and leading digital asset prime brokerage firms, providing deep liquidity, advanced technology solutions, and 24/7 access to global crypto markets. FalconX has now acquired 21Shares, the provider of the world’s largest suite of cryptocurrency exchange-traded funds and products (ETFs/ETPs) to accelerate the convergence of listed markets and digital assets, while strengthening its global presence worldwide.
Since its founding in 2018 by Hany Rashwan and Ophelia Snyder, 21shares has grown into a global leader in digital asset ETPs, managing over $11 billion in assets across 55 listed products as of September 30, 2025. Its proprietary technology platform and highly established network of partners underpin its ability to bring new products to market quickly and at scale.
FalconX, a leading institutional digital asset prime brokerage, has acquired 21Shares, making it one of the most significant ETP industry transactions in recent years. Based in California, FalconX has facilitated over $2 trillion in trading volume and a global client base exceeding 2,000 institutions, powered by its crypto-native trading, credit, and technology infrastructure. This acquisition brings together 21shares’ expertise in asset management product development and distribution with FalconX’s institutional-grade infrastructure, structuring capabilities, and risk management platform. Together, the two firms will accelerate the creation of tailored investment products that meet growing institutional and retail demand for regulated digital asset exposure.
“21shares has built one of the most trusted and innovative product platforms in digital assets,” said Raghu Yarlagadda, CEO of FalconX. “We’re witnessing a powerful convergence between digital assets and traditional financial markets, as crypto ETPs open new channels for investor participation through regulated, familiar structures. FalconX has built the institutional backbone for trading, derivatives, and credit, and extending that infrastructure into listed markets through 21Shares is a natural next step toward strengthening market efficiency. For FalconX, this is a deliberate, long-term investment in building durable enterprise value across market cycles.”
“Over the past 8 years, we have built the 21shares business from $0 to more than $11 billion in AUM. We have scaled to reach millions of customers in every corner of the globe and brought them into crypto with our products and our research,” said 21shares founders Ophelia Snyder and Hany Rashwan. “We are sincerely looking forward to FalconX continuing to build on this strong foundation for the next chapter of 21shares’ development.”
Following completion, 21shares will remain independently managed under the FalconX umbrella. Mr. Barlow will continue as CEO of 21shares, working closely with the leadership team at FalconX to advance a shared vision for the future of the digital assets ecosystem. No changes to the construction or investment objectives of the existing 21shares ETPs (Europe) or ETFs (US) are planned.
(Press release/RAN)
Image L-R: 21Shares co-founders: Hany Rashwan and Ophelia Snyder, 21shares